Leadership Archives - Page 4 of 4

The Cigar Habits of J.P. Morgan

Posted on December 8, 2019 by Staff

When it comes to cigar habits of the most famous cigar aficionados in American history, John Pierpont Morgan is among the best. Known as the ‘Zeus of Wall Street’ due to his considerable wealth and power, J.P. Morgan also had a rabid appetite for cigars. More specifically, it was the 8” Maduro Meridiana Kohinoor that most often hung from his lips. The Meridiana Kohinoor was a brooding bat of a cigar. It was also likely the basis for the ‘cigar-smoking billionaire’ trope in popular culture.

A millionaire from birth, it was no doubt Morgan’s considerable wealth stoked his love for tobacco leaf. As a young man in Germany, Morgan spent countless hours at the beer halls. It was also no secret that dancing, smoking, and drinking were becoming his favorite activities.

The Zeus of Wall Street’s Silver Humidors

If being born rich wasn’t enough, Morgan went on to increase his wealth exponentially. He founded General Electric. Then, he purchased the New York Times. After that, he bailed out the U.S. treasury — all without breaking a sweat. Not surprisingly, this was the same guy who had custom humidors built for every one of his many yachts. Some now grace the offices of America’s most influential businessmen.

He was a man who traded and banked largely in silver. So, that same metal became his material of choice for his seaworthy humidors. Each yacht was reportedly fitted with a massive silver-encased humidor capable of holding hundreds of his favorite sticks.

Since Morgan’s cigar habits included taking down 20 and 30 cigars per day. That was about enough to cover a long weekend in the Bahamas. Turns out, when you’re making as much money as the original J.P. Morgan, every cigar is a victory cigar.

A Thoughtful Man and A Thoughtful Smoker

The image of a hard-lined businessman puffing on a thick cigar is one fixed into our imaginations. That’s particularly true if your calling card is the ‘Zeus of Wall Street.’ But that same image is not quite accurate for J.P. Morgan. Despite his wealth, Morgan enjoyed cigars far more than being at the center of the world’s finances.

His thoughtful and religious nature took him by sea to distant lands. it’s easy to imagine his commanding figure standing at the ship’s helm, cigar in hand, and thick smoke curling into the salty air. According to his closest associates, it was during these quiet times that Morgan contemplated leaving the business world altogether.

Today, Morgan’s personal cutters and humidors fetch a high price on the ultra-rich auction circuit. For him, they were just comforting in an otherwise taxing life.

Morgan’s Favorite Sticks

The Meridiana Kohinoor shared part of its name with the world’s largest diamond. It was an absolute beast of a Cuban cigar. Most smokers today would have a hard time putting it back, much less smoking anywhere near as many as ‘Zeus of Wall Street’ himself. Morgan’s associates called them ‘Hercules sticks’. But, Morgan was less intimidated by their stature. At $1.25 each, Morgan would order them in batches of 9,000. The cost comparison of $1.25 in 1890 would be about $35 today.

Like any cigar smoker worth his wrapper, Morgan had a few other brands he liked to alternate with. The Regalia de Morgans was a five-inch Havana-made substitute for when he was in a hurry. The Meridiana Selectos was an easy-smoking mid-sized cigar when a bit more leisure in his cigar habits was in order.

Unfortunately, none of the cigars that Morgan enjoyed are still available today. That is unless you happen to have a few hundred grand to spend at a gold-encrusted auction house. Even the 8” stogies are harder to come by. But, if you really want one, you are most likely going to find it on a yacht, attached to the lips of a man pretending to be the most powerful banker in the world.

Photo credit: The Library of Congress on VisualHunt.com / No known copyright restrictions

Tough Conversations Over Holiday Cigars

Posted on November 25, 2019 by Staff

This holiday season will be full of lots of cigars and for most of us also a great deal of family time. Unless you’re related to cousin Eddie, family time is usually a positive thing. It means quality time with loved ones. It’s a great time to finally have those tough conversations you’ve been putting off for years and start implementing new plans. When people are around their loved ones, it also causes them to be reflective. So, there’s no better environment to start a difficult conversation than over a great stick!

Don’t miss my completely free holiday gift to you at the bottom of this article!

Tough Conversations and Holiday Cigars

Estate or end-of-life planning starts with internalizing that we all die. It’s unpleasant to think about and natural to put off. Some families are in great shape. They have had conversations about what happens if Mom, Dad, their spouse, or etc. were to pass unexpectedly. They’ve also implemented a plan to carry out final wishes. If that’s you, great! Cut another piece of pumpkin pie, pour a good beverage, and light an Opus X.

Have a Plan or Starting Thinking About One

If the unexpected happened to you, would your family be taken care of, financially and otherwise? If you have minor children, have you formalized how you’d like them cared for? Do your loved ones know what your final arrangement preferences are for burial, cremation, service or etc? They should include instructions beyond the vague, “something appropriate.”

On a basic level do you have a plan to pay for your funeral? Do your loved ones know about your financial affairs? Who should they talk to (lawyer, financial professional, insurance agent, accountant) to settle your affairs?

Each of these questions could be an article or two to address. Depending on their complexity, they might require professional advice. I’m not trying to solve all your issues here, just to encourage you to start the conversation.

Three Tough Conversations to Consider

So you’re all set. You’ve got a will and executor lined up. You clarified your wishes for final arrangements. You’ve had some tough conversations with your spouse or adult children. They have a decent idea of what to expect with your finances. And, you’ve given some thought to estate planning issues if your assets are enough to warrant it. That’s great! Now, here are three things that you might have overlooked.

Digital Footprint or Assets

Years ago you didn’t have to worry about digital assets. Now, we all have them, even if they aren’t valuable to anyone else. Have you written down all your major online accounts (email, social media, banking, or financial) and instructions on how to access them? Do you own websites or domain names? Someone should be able to access them.

Medical Power of Attorney or Living Will

Have you addressed how you’d like to have medical decisions for you if you are unable to do so for yourself? Have you codified this in writing? Would you like heroic measures taken to try to save you even if you’re facing no hope of recovery? If you haven’t codified your wishes, someone else might make a decision for you that is contrary to what you want.

Long-term Care

It isn’t just death that causes us problems. According to the 2019 Genworth Cost of Care Study, 70% of adults will need long-term care in their lifetime. I know! That is a frigging crazy stat…and also very sobering. The median cost for a semi-private room in a nursing home is over $90,000 per year.

Long-term care insurance is an option for addressing some of those costs. It’s important to consider how you’d like to deal with the possibility of being unable to care for yourself. Having a plan is important even if you decide not to use long-term care insurance to help offset these expenses.

My Holiday Gift to You (No, It’s Not a Box of Cigars)

My friends at Tarkenton Financial have put together a great 24-page “Family Guidebook.” It’s great for dealing with some of these estate issues and starting conversations.

Written by a respected estate planning attorney, it also includes a workbook you can use to organize your important information (names, contact info, accounts, logins, instructions, etc.). I’d be happy to email you a complimentary copy as my holiday gift to you. Send an email to dave@cigarlifeguy.com or message me on social media @cigarlifeguy with your email address and a note that says “send me the family guide.”

Of course, if life insurance or long-term care insurance would help with your plans, Cigar Life Guy gets you non-smoker rates regardless of how many cigars you smoke so #PSSITA!

Photo credit https://www.flickr.com/photos/gylo/5277766947

John F Kennedy and the H. Upmann Petit

Posted on November 19, 2019 by Staff

The Strange Legacy of JFK’s Favorite Cigar

John F Kennedy had a love for cigars, but not just any cigar. For him, the H. Upmann cigar was the cigar to have. If you have spent any amount of time perusing the shelves at your local tobacconist, then you have likely crossed paths with an H. Upmann cigar. It is one of the oldest cigar brands in existence (outdated only by Punch and Por Larranaga). It also managed to survive the decades-long embargo by producing a non-Cuban counterpart under the same name.

This longevity is hardly the reason why people still talk about H. Upmann today. The H. Upmann cigar has managed to remain popular among collectors and newcomers alike.

“It’s the cigar that JFK smoked!” is what you will likely hear from the over-enthusiastic guy behind the counter of your local smoke shop. For any warm-blooded American, this is more than enough reason to light up a stick of this signature brand.

Of course, it isn’t technically true. John F. Kennedy’s favorite stick was the original Petite Upmann. It was a machine-rolled Cuban with mild smoke and dense ash that was since discontinued. But the mystique around this famous cigar is only bolstered by one of the most interesting stories in cigar history.

JFK’s Washington D.C. Cigar Sweep

The year was 1962, less than a year after the disastrously-executed Bay of Pigs Invasion. A freshly-elected John F. Kennedy had the unfortunate task of enacting a congressionally-approved Cuban trade embargo. The embargo would forbid the sale of Cuban products (i.e., cigars) on American soil.

Kennedy, a man who knew the value of a well-enjoyed cigar, had to act fast. The next morning, he would have to sign the order. From that moment on, he would no longer be able to find his favorite cigar.

Enter Pierre Salinger, John F. Kennedy’s rookie Secretary of State. According to Salinger’s own account, Kennedy called him into the Oval Office in the early evening. He had a hell of a favor to ask.

“I need some help,” Kennedy said plainly. “ … about 1,000 Petit Upmanns.”

Salinger jumped into action. An avid fan of Cuban cigars himself, he set out to visit every tobacconist in the D.C. area. In all, he was able to buy 1,200 Petite Upmann cigars mere hours before Kennedy signed the embargo into law. According to Salinger, Kennedy signed the document right after hearing about the impressive haul.

The failure of the Bay of Pigs necessitated their stockpiling. So, these were nothing if not victory cigars, at least in the political sense.

The H. Upmann Petite: Gone for Good?

Today, the Cuban-made H. Upmann and the Dominican-made H. Upmann operate inside a peaceful coexistence. Although, the recent loosening of restrictions has allowed a handful of people to partake in the Cuban versions. While the Upmann Petite was long since discontinued, there were some efforts to recreate the flavor and aroma of JFK’s favorite smoke.

The H. Upmann Original Petite Corona is an impressive attempt at this endeavor. This resurrected blend of Dominican and Brazilian tobaccos offers the same level of warm and nutty smoothness that Kennedy and Salinger scrambled to preserve. For about 7 bucks, it is certainly worth a try if you come by one.

Anyone who still holds a grudge against John F Kennedy for the whole Cuban embargo thing, it’s time to do what any lover of good cigars should do. Move on, light up, and enjoy whatever you’re smoking.

Photo credit: <a title=”National Archives and Records Administration
, Public domain, via Wikimedia Commons” href=”https://commons.wikimedia.org/wiki/File:Hyannisport_Weekend._President_Kennedy_with_cigar_and_New_York_Times._Hyannisport,_MA,_aboard_the_%22Honey_Fitz%22._-_NARA_-_194268.jpg”><img width=”256″ alt=”Hyannisport Weekend. President Kennedy with cigar and New York Times. Hyannisport, MA, aboard the "Honey Fitz". – NARA – 194268″ src=”https://upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Hyannisport_Weekend._President_Kennedy_with_cigar_and_New_York_Times._Hyannisport%2C_MA%2C_aboard_the_%22Honey_Fitz%22._-_NARA_-_194268.jpg/256px-Hyannisport_Weekend._President_Kennedy_with_cigar_and_New_York_Times._Hyannisport%2C_MA%2C_aboard_the_%22Honey_Fitz%22._-_NARA_-_194268.jpg”></a>

The Victory Cigars of NBA Coach Red Auerbach

Posted on October 21, 2019 by Staff

Arnold “Red” Auerbach was well-known as the coach and later the general manager of the Boston Celtics in the National Basketball Association (NBA). His teams, featuring the likes of Bill Russell, Bob Cousy, and several more hands full of Hall of Famers, were the most dominant of his era, the 1950s and 1960s, winning nine NBA championships as a coach and later another seven as an executive. Phil Jackson has surpassed his coaching records, but there is no doubt he was the iconic coach of his era. The NBA’s Coach of the Year award gets its name from him. More than fifty years later, we best remember Red Auerbach for his trademark “Victory Cigars.”

Red Auerbach’s Victory Cigars Ritual

When the Celtics were up late in the game, Red lit a cigar on the bench. It would signal that the game was effectively over.

“It all boils down to this. I used to hate these college coaches or any coach that was 25 points ahead with three minutes left to go, and they’re up there yellin’ and coachin’ because they’re on TV, and they want their picture on, and they get recognition. To me, the game was over. The day’s work is done. Worry about the next game. This game is over. So I would light a cigar, sit on the bench, and watch it. The game was over, for all intents and purposes. I didn’t want to rub anything in or show anybody what a great coach I was when I was 25 points ahead. Why? I gotta win by 30? What the hell difference does it make?” — Red Auerbach (as reported by Cigar Aficionado, Summer 1994)

Was it Obnoxious, and Did it Piss Off the Opposition?

Well, of course, it was obnoxious. Opposing players hated it. One, Paul Seymour of the Syracuse Nationals, is said to have remarked that his ambition in life was not to win an NBA Championship but to come back and beat Red and his Celtics after lighting the cigar.

The Cincinnati Royals had a promotion that gave 5000 fans a complimentary cigar as they entered the arena one evening in hopes that they’d be able to light them up and celebrate a Royals win over the Celtics. It didn’t work out, and the fans left with unlit cigars in hand. (Dan Shaughnessy, Evergreen, 1990)

Some of his players didn’t care for it, either. Bob Cousy, his Hall of Fame guard, was on record as not being a fan. It fired up the other team. They also didn’t care for them in the locker room. The ventilation system could have been better. Everybody had a Red story about him firing up a stick here or there (including in a car) with no regard for the people around him. (Yeah, he was a lout)

Let’s face it, though. The guy was a winner. When you win, you get to make your own rules.

What Kind of Victory Cigars did Red Auerbach Smoke?

“A little bit of everything,” according to Red. In this way, he was much like many of us. But, he acknowledged early in his life, he was a pipe smoker primarily because it was more economical than a premium cigar.

At one point, he had an endorsement deal with King Edwards, a cigar manufacturer of the era. He also acknowledged receiving many cigars as gifts from his many Celtics fans. Of course, he smoked those too. If there is one cigar he is linked to by brand as being a favorite, it is probably the Hoyo de Monterrey.

Will There Ever Be Another Red Auerbach?

Probably not. Things change. Heck, you can’t even smoke inside anymore. Today’s victory celebrations involve some dance or posts on social media. Let’s face it; the world is different now. But as a cigar enthusiast, even if you don’t like the Celtics, you must have some respect for a guy whose statue holds a cigar in his hand. That same statue sits outside his former workplace, the building formally known as the Boston Garden. Now, his statue gets its name from some tech company or bank as part of a naming rights deal. Things were simpler in Red’s day.

Win something, light one up, and enjoy a victory cigar of your own!

Photo credit: “Bill Russell and Red Auerbach 1966 Champions,” by Fred Keenan, Wikimedia Commons license Public Domain CC0 1.0